LTC PROPERTIES INC 8-K

What Happened

• On June 26, 2026, LTC Properties, Inc. announced a Second Amendment to its Credit Agreement (originally dated July 21, 2025, and previously amended December 12, 2025) with KeyBank National Association as Administrative Agent and a syndicate of lenders and arrangers. The amendment exercises the incremental facility to raise the lenders' aggregate commitment from $800 million to $1.1 billion—a $300 million increase—and expands the aggregate revolving commitments from $600 million to $900 million. The Credit Agreement’s maximum total commitments permitted were increased from up to $1.2 billion to up to $2.0 billion. The filing notes that other material terms remain unchanged and the amendment is attached as Exhibit 10.1.

Key Details

• Amendment date: June 26, 2026.
• Total lender commitments increased from $800M to $1.1B (incremental $300M).
• Revolving credit capacity increased from $600M to $900M.
• Credit Agreement maximum allowed commitments raised from $1.2B to $2.0B.
• LTC entered into 3-year interest rate swap agreements to effectively fix the interest rate on $150M of borrowings under the Credit Agreement at 4.97% per annum.

Why It Matters

• The amendment increases LTC’s committed bank financing, giving the company more available liquidity and capacity for working capital, investments or acquisitions without immediately issuing new public debt or equity.
• By entering 3-year swaps fixing $150M at 4.97%, LTC has reduced interest-rate exposure on that portion of borrowings, making near-term interest costs more predictable.
• Investors should note the larger committed facility and the swaps when assessing LTC’s liquidity profile, interest expense sensitivity and overall leverage; the filing confirms the formal amendment is available as an exhibit to the 8-K.